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Retail therapy `leads to debt`

21/05/2007

Britons tend to head to the shops when they are stressed out, leading to high levels of debt, according to new research.

Figures from charity the Retail Trust indicate that almost one-quarter of UK adults, including 40 per cent of those aged 18-24, go shopping to combat stress, the Retail Bulletin reports.

Some 32 per cent of men say that they have accrued debts from shopping, while people living in the West Midlands and the north-east were revealed to owe the most.

Retail Trust chief executive Nigel Rothband said: "It is estimated that an astonishing one in five people in Britain work in the retail industry and the survey reinforce the fact that there are a large number of people in need of help and advice."

People who work in the service industry are almost twice as likely to turn to retail therapy when under stress, the study reveals.

In related news, UK retail sales have fallen for the first time in the past three months, according to the Office for National Statistics.

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